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Decoding Neysa’s Series A round, valuation and shareholding pattern

EntrackrEntrackr · 1m ago
Decoding Neysa’s Series A round, valuation and shareholding pattern
Medial

Generative AI startup Neysa raised $30 million in its Series A round led by NTT Venture Capital with the participation of Nexus Venture Partners, Z47, and others. The Neysa’s board has allotted 1,11,532 Series A compulsory convertible preference shares at an issue price of Rs 20,430 and also allotted 12,592 equity shares to collectively raise Rs 252 crore or $30 million, according to its regulatory filing accessed from Registrar of Companies (RoC). NTT Ventures led the round with Rs 75.67 crore or $8.9 million, followed by Nexus Venture Partners and Z47 (formerly Matrix Partners India), each contributing Rs 67.26 crore ($7.9 million). Anchorage Capital invested Rs 16.8 crore, while Sharad Sanghi also allotted Rs 25.22 crore worth of equity shares. The new capital will help Neysa scale its AI infrastructure, enhance research and development, and prepare for the launch of its Gen AI acceleration cloud service. According to Entrackr’s estimates, the company will be valued at around Rs 1,090 crore or $128 million (post-allotment). Neysa is an AI cloud and platform-as-a-service (PaaS) startup that enables users to manage and scale Generative AI projects in the cloud. Its offerings include Nebula, a platform for deploying and scaling AI workloads; Palvera, which streamlines network intelligence; and Aegis, designed to secure AI/ML ecosystems against emerging threats. Mumbai-based startup Neysa has raised $50 million to date, including its $20 million seed round. According to startup data intelligence platform TheKredible, Nexus Venture Partners and Z47 are the largest external shareholders in the company, each holding a 16.22% stake, with NTT VC and Anchorage Capital holding 14.83% and 4.32% respectively. The company’s founders, Sharad Sanghi and Aninya Das, collectively own a 43.09% stake. Neysa has not reported any operating revenue till FY24 but earned interest income from fixed deposits with banks and security deposits amounting to Rs 13.87 lakhs during the fiscal year ending March 2024. The company incurred a net loss of Rs 3.1 crore in the same period.

Decoding Snabbit’s Series B round, valuation and captable

EntrackrEntrackr · 1m ago
Decoding Snabbit’s Series B round, valuation and captable
Medial

url: https://entrackr.com/fintrackr/decoding-snabbits-series-b-round-valuation-and-captable-9331453 Content: Quick service platform Snabbit recently announced its $19 million Series B round led by Lightspeed with the participation of existing investors Nexus Venture Partners and Elevation Capital. The board of Snabbit is set to approve the allotment of 65,165 Series B compulsory convertible preference shares at an issue price of Rs 24,914.93 each, to raise Rs 162.35 crore (approximately $19 million), its regulatory filing accessed from Registrar of Companies (RoC) shows. Lightspeed is expected to invest Rs 94 crore ($11 million), while existing investors Nexus Venture Partners and Elevation Capital will contribute Rs 34.18 crore ($4 million) each. According to Entrackr’s estimates, Snabbit will be valued at Rs 684 crore (around $80 million), a 3.5X increase from its $23 million valuation in the previous Series A round. Founded in 2024 by Aayush Agarwal, Snabbit connects households with trained professionals for on-demand home services like cleaning, dishwashing, and laundry. Experts can be booked by the hour and arrive within 10 minutes. The platform currently hosts over 600 professionals, doubling monthly, according to Agarwal. Following the allotment of the new round, Nexus Venture Partners and Elevation Capital will hold 23.69% and 19.92% stake, respectively, while new investor Lightspeed will own 13.75%. Founder Aayush Agarwal will retain a 36.08% stake in the company. The Mumbai-based company has raised over $25 million across 3 rounds including $5.5 million in Series A round led by Elevation and Nexus earlier this year. Snabbit directly competes with the industry leader Urban Company which recently filed its Draft Red Herring Prospectus (DRHP) with SEBI for a Rs 1,900 crore initial public offer (IPO) and also entered into quick commerce with the launch of 15-minute maid booking service, “Insta Help”. Snabbit also competes with another 10-minute house help service startup, Pronto which raised $2 million from Bain Capital at a valuation of $12.5 million.

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